ABRDN AUSTRALIA EQUITY FUND INC PHILADELPHIA, March 30, 2017 /PRNewswire/ -- Aberdeen Australia Equity Fund, Inc. (the "Fund") (NYSE: IAF) held its Annual Meeting of Shareholders (the "Meeting") on March 30, 2017. At the Meeting, shareholders of the Fund voted to re-elect three Class II Directors to the Board of Directors.
As of the record date, February 6, 2017, the Fund had outstanding 22,742,326 shares of common stock. 80.3% of outstanding common stock were voted representing a quorum.
The description of the proposal and number of shares voted at the Meeting are as follows:
To elect three Class II Directors to the Board of Directors:
Votes For Votes Against Votes Withheld
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P. Gerald
Malone 17,372,937 564,500 331,988
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Peter D. Sacks 17,352,160 575,886 341,379
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Hugh Young 17,381,612 544,808 343,005
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Directors whose term of office continued beyond the Meeting are as follows: Neville J. Miles, Moritz Sell, William J. Potter and John T. Sheehy.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.
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aberdeeniaf.com
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SOURCE Aberdeen Australia Equity Fund, Inc.
